A new low cost Chinese carrier has signed an agreement with Boeing to purchase 50 aircraft worth over $6 billion, the largest ever deal made by a private airline in China.
Jiuyuan Airlines, based in Guangzhou City, China's southern business hub, got approval from the Civil Aviation Administration in February and is expected to begin flights in the second half of this year.
The deal was signed yesterday. The aircraft, including Boeing's 737-800 and 737 MAX, are expected to be in operation by 2020, state-run Xinhua news agency reported.
The budget carrier plans prices as low as 9 yuan ($1. 46) to tap a new client source. Guangzhou is the top destination of Chinese migrant workers.
Jiuyuan Airlines is jointly owned by Shanghai Juneyao Airlines Co Ltd, Elion Resources Group Limited Company, Xinhualian Holding Co Ltd and Juneyao's Ji Guangping with a registered capital of 600 million yuan.
Jiuyuan Airlines, based in Guangzhou City, China's southern business hub, got approval from the Civil Aviation Administration in February and is expected to begin flights in the second half of this year.
The deal was signed yesterday. The aircraft, including Boeing's 737-800 and 737 MAX, are expected to be in operation by 2020, state-run Xinhua news agency reported.
The budget carrier plans prices as low as 9 yuan ($1. 46) to tap a new client source. Guangzhou is the top destination of Chinese migrant workers.
Jiuyuan Airlines is jointly owned by Shanghai Juneyao Airlines Co Ltd, Elion Resources Group Limited Company, Xinhualian Holding Co Ltd and Juneyao's Ji Guangping with a registered capital of 600 million yuan.
